Mukesh Ambani's mantra to solve current account deficit problem

Mukesh Ambani's mantra to solve current account deficit problem

Painting an optimistic picture of India, Reliance Industries Chairman Mukesh Ambani said India can solve its current account deficit problem by increased use of technology across all spheres of industries, especially in the energy sector.

Addressing a gathering of Asia Society in Mumbai on the launch of a collection of essays called ‘Reimagining India: Unlocking the Potential of Asia’s Next Superpower’ on Tuesday evening, Ambani said delivery of education, means of livelihood and healthcare services can be expedited if the country embraces technology.

Mukesh Ambani's mantra to solve current account deficit problem

“A pre-requisite to solve CAD problem is education, and to make 250 million young Indians acquire skills and make most of available technology," said Ambani.

Ambani is one of the contributors to the book along with CNN’s Fareed Zakaria; Microsoft co-founder Bill Gates; Google chairman Eric Schmidt; Harvard Business School dean Nitin Nohria; Bharti Airtel chairman Sunil Mittal and Nandan Nilekani, chairman of the Unique Identification Authority of India and co-founder of Infosys.

Mukesh Ambani's mantra to solve current account deficit problem

“If we manage to bring this segment into the economic mainstream, it will result in enormous enhancement of India’s economic and non-economic power as we will generate equality in access despite inequality in income,” said Ambani.

Mahindra Group chairman Anand Mahindra said India has a chance to create a completely new template of development. He added smaller states are better to manage.

“I have no problem about more states coming up.

“If size is the issue, make it (states) more manageable.”

Reimagining India: Unlocking the Potential of Asia’s Next Superpower is published by McKinsey and it brings together leading thinkers from around the world to explore and debate the challenges and opportunities facing the country.